Speaking during the commissioning of the plant, which was built by CFAO Yamaha Motor Nigeria Limited, Ambode said that the population of the sate and the strong buying power of the people should give investors desire to invest in the state.

He said: “The significance of locating this Assembly Plant in Lagos is very clear. Lagos remains the most attractive location financially and socially for investment in Africa. I have come to assure you that you have made the right decision to locate your business here.”

Ambode stated that Lagos, with the population of over 21 million people which comprises of the middle-class with strong purchasing powers remains the best place for business in Nigeria and called on other international business conglomoretes who have not yet establish their businesses in Lagos to consider doing so.

A ccording to him, aside the fact that Lagos accounts for 60 per cent of Nigeria’s industrial capacity, the State also attracts about 80 per cent of $6billion annual Foreign Direct Investment into Nigeria.

Ambode, who said the state is open to business and serious investors, assured that government would continue to invest in security, job opportunity and bridge infrastructure gap.

“We will continue to invest in the critical infrastructure and security to guaranty safety and good return on investment. As a government, we will continue to explore ways to create an enabling environment to make your business thrive. We are committed to introducing new incentives for businesses in Lagos to enable them grow, support the society and take more of our youths off the street,” he said.

Chairman, CFAO France and the President, Yamaha Motors Company Limited, Messrs. Richard Bielle and Hiroyuki Yanagi, while speaking separately at the event said that the joint venture was strategic as it would boost their capacity to deepen their operations in Africa.

The duo, who expressed their belief in Lagos as the business hub of Africa, also pledged their commitment in using their business expertise to better the lot of Nigerians and thanked the government of Lagos State for the support.

They said the joint venture between CFAO and Yamaha will strengthen the transport sector as well as boost employment opportunity in the country.